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Gold/Mining/Energy : UNIQUE BROADBAND SYSTEMS (UBS:VSE) -- Ignore unavailable to you. Want to Upgrade?

To: Allan who wrote (246)	8/16/1999 9:25:00 PM
From: R.A.K.	Respond to of 682

NEWS RELEASE: Unique Broadband Systems, Inc. signs interim services agreement with XM Satellite Radio MARKHAM, ON, Aug. 17 /CNW-PRN/ - Unique Broadband Systems, Inc. (VSE: UBS - news) announces that it has been awarded an interim services agreement by XM Satellite Radio Inc. of Washington, D.C., for the design and engineering of terrestrial repeater hardware. ``This contract could represent the opportunity for Unique Broadband Systems to play an integral role in the future of radio and to participate in the first national deployment of a satellite digital radio network,' said Stephen J. Rosen, Vice-President and CFO of the Company. XM is developing a new band of radio. The system will use direct satellite-to-receiver broadcasting technology to provide listeners in their cars and at home with up to 100 channels of digital radio from coast-to-coast in the United States. Its repeater network will supplement XM's high-powered satellite signals in urban areas where densely packed tall buildings create ``urban canyons.' XM is in the process of selecting a vendor for its repeater hardware. UBS is part of one of the teams bidding for the definitive contract. During the next 90 days, UBS will develop preliminary design and specifications for the XM repeater hardware. At the end of the 90-day period, XM is expected to make a final decision on the definitive contract. XM Satellite Radio is one of two companies that were awarded national satellite digital radio licenses in 1997 by the FCC. XM Satellite Radio will beam as many as 100 channels of digital-quality music, news, talk, sports and children's programming to cars and homes. The service will be available utilizing two high-powered satellites built by Hughes Space & Communications International with payloads by Alcatel. Alpine, Delphi Delco, Pioneer and Sharp have announced that they will design and market AM/FM/XM radios. XM is a wholly owned subsidiary of American Mobile Satellite Corporation (NASDAQ:SKYC - news). Its investors include industry leaders Clear Channel Communications Inc.; DIRECTV, Inc., a unit of Hughes Electronics Corporation; The General Motors Corporation; and a private investment group comprised of Columbia Capital, Telcom Ventures L.L.C., and Madison Dearborn Partners, which together recently invested $250 million in the company. For more information about XM or this release, please visit www.xmradio.com. or contact Vicki Stearn in public relations for XM at (202) 969-7070. Unique Broadband Systems, Inc. is a recognized world leader in the design, development and manufacture of broadband wireless and other wireless solutions that serve the service provider, telecommunications and broadcast industries. With headquarters in Markham, Ontario, Unique Broadband Systems markets its products globally, providing 7X24 support. For additional information, visit the Company's web site at www.uniquesys.com or call Stephen Rosen at (905) 474-0091. On behalf of the Board of Unique Broadband Systems, Inc. ``Alex Dolgonos' President and CEO